“Our Model 3 production plan includes periods of planned downtime in both Fremont and Gigafactory 1,” a Tesla spokesperson told Bloomberg News. “These periods are used to improve automation and systematically address bottlenecks in order to increase production rates. This is not unusual and is in fact common in production ramps like this.”

There were no significant upgrades or research notes from Wall Street analysts to possibly effect the stock, either.

The Model 3 – touted as the electric car maker’s first mass market sedan – has been a source of headache for the company. In January, shares stumbled after reports Tesla was having difficulties fixing its long-disclosed battery problem in the new model. Tesla denied the reports.

Monday’s spike also comes the day after CEO Elon Musk took the stage at SXSW in Austin to talk about his other company, SpaceX, and its race to colonize Mars.

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